Gold & XAU Fulfilling Likely Aug. 26 – 28 Peaks; Uncanny Web of Gold Cycles Returns … Could a Sharp, September Sell-off be Seen Soon?
08/28/19 Weekly Re-Lay Alert: “Gold & Silver extended their advances into late-Aug., allowing Silver to attack its range-trading target at 18.500/SIU (while the XAU did the same thing). They remain in powerful uptrends on a 2 – 3 month basis (though reaching the extreme of the 2 – 3 month buy signal triggered on May 31).
On a 1 – 2 year basis, they remain in the midst of a projected ~2-year bull market – from 3Q ’18 into 4Q ’20.
Gold already attained its ‘doubling of the range’ target, derived from its Aug. ’18 – Feb. ’19 rally. The range created by that rally (1208.6 – 1374.3/GCZ) projected a range target at 1540.0/GCZ. (1208.6 – 1374.3/GCZ = 165.7/GCZ // 1374.3 – 1540.0 = 165.7/GCZ.) Its highest weekly close, so far, is at 1537.6/GCZ. Watch Aug. 30!
That high also fulfilled a form of cyclic LHR – most commonly referred to as a low – high – high Cycle Progression. Gold set its bottom in Aug. ’18 and rallied for 27 weeks into late-Feb. ’19. That ‘low – high’ cycle projects an ensuing high 27 weeks later – on Aug. 26 – 30, ‘19. That is similar to what the XAU has been projecting (for a multi-month peak in Aug. ’19).
If a peak is set this week, it would occur during the third week after metals surged to attack their weekly LHR levels – a signal that usually precedes a 1 – 2 month peak by 1 – 3 weeks. So, it would still fulfill that indicator.
A peak in the current week would also reinforce the outlook for a future peak in ~March 2020 – which would now also represent a ~27-week low-high-high-(high) Cycle Progression…
The XAU extended its advance into Aug. 28 – the latest phase of an 18 – 21 day low-low-low-high-high-(high) Cycle Progression that last timed the Aug. 7 peak. It did that while fulfilling its range-trading target near 100.60/XAU (~60.60 – ~80.60 – ~100.60).
It would take a daily close below 98.00 to show the first sign of a top. If/when a reversal lower is confirmed, the XAU would be expected to correct into Sept. ’19 – in line with monthly and annual cycles. A corroborating 18 – 19 week low-low-low-(low) Cycle Progression recurs on Sept. 23 – Oct. 4.”
Precious metals peaking as stocks complete ‘August 2019 Plunge Cycles’ – projected to spur sharp equity sell-off into late-Aug. ’19 (as precious metals rallied on a ‘flight to quality’ surge). Uncanny 27 – 29 Week Cycle(and web of related cycles) could time ANOTHER decisive turning point in Gold!
1525 – 1540.0/GC, 18.50/SI & 100.60/XAU upside objectives reached! Little upside potential remains.
What Should September See?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.